The following information relates to Sports Bikes, Inc. Net Sales Revenue$212,000Cost of Goods Sold160,000Interest Revenue10,000Operating Expenses42,500 Calculate the operating income. A.$240,000 B.$9,500 C.$69,500 D.$19500

After deducting operating costs such as labor, depreciation, and cost of goods sold, operating…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Peace Inc. has the following information: Sales P 480,000 Operating expenses 300,000 Net loss (60,000) How much is Peace Inc.'s gross profit if its gross profit is 50% based on sales?A. 260,000B. 180,000C. 240,000D. 280,000
profit margin
Selling & administrative expenses 20,200 Loss on sale of plant assets 11,700 Gross profit 90,500 Interest expense 8,000 Income tax 10,000 Rent revenue 10,200 If this information was used to prepare an income statement, Income from Operations should be: Select one: a. 68,800 b. 70,300 c. 78,800 d. 110,700 e. 58,600
Based on the table given below, Net Income Model Data 1 B Sales Cost of Goods Sold $10.000.000 6400.000 Administrative Expenses 500,000 Selling Expenses 5.900.000 Depreciation Expenses 250.000 10 Interest Expenses 20000 11 Taxes $620,000 12 13 Model 14 15 Kiss Profi 1,000,000 16 Operating Expenses 52.110.000 19 Net Operating Inome 1.450.000 arnings Before Tenes 1350.000 19 20 Net Income which of the following formulas would be used to calculate the net income value using only the information in the Model, and not in the Data section?. -B6-B15 -B15-B16-B17+B18 -B5-B17 -B18-B11
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Financial information is presented below: Operating expenses $ 33000 Sales revenue 211000 Cost of goods sold 129000 Gross profit would be $178000. $ 82000. $ 33000. $ 49000.
K The following information relates to Fantastic Clothing, Inc. Net Sales Revenue Cost of Goods Sold Interest Expense Operating Expenses Calculate the net income. OA. $260,700 OB. $265,000 O C. $315,700 OD. $320,000 $550,000 230,000 4,300 55,000
What is the net income from the following income statement? Income Statement Sales $12,000 Returns ($370) Net Sales COGS ($8,150) Gross Profit Overhead ($2,300) Net Income net income = $[?] Enter Copyright 2003 - 2021 Acellus Corporation. All Rights Reserved.
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The selling expenses 440 000 ID. administrative expenses 240 000 ID., income from operating 630 000 ID., other expenses and losses 90 000 ID., income tax 40 000 ID., cost of purchases 180 000 ID., the net income for the year is 680 000 ID. O 760 000 ID. 940 000 ID. O 500 000 ID. no one.

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Net Sales Revenue	$212,000
Cost of Goods Sold	160,000
Interest Revenue	10,000
Operating Expenses	42,500

he following information relates to Sports​ Bikes, Inc. Net Sales Revenue $212,000 Cost of Goods Sold 160,000 Interest Revenue 10,000 Operating Expenses 42,500 Calculate the operating income. A. $240,000 B. $9,500 C. $69,500 D. $19500

he following information relates to Sports Bikes, Inc. Net Sales Revenue $212,000 Cost of Goods Sold 160,000 Interest Revenue 10,000 Operating Expenses 42,500 Calculate the operating income. A. $240,000 B. $9,500 C. $69,500 D. $19500